The Harrison Square project took one more step towards becoming a reality when local government officials met to discuss the financing of the project.
"In a Wednesday, October 3 meeting with Indiana Department of Local Government Finance (DLGF) Commissioner Cheryl Musgrave, Allen County Commissioner Nelson Peters and Fort Wayne Mayor Graham Richard received the state’s approval for the Harrison Square bond financing. The decision was the latest authorization in the multi-step public approval process for the downtown catalyst project.
The state’s endorsement puts the City in a stronger position when selling the $45.9 million bond to finance Harrison Square. The general obligation backing is viewed as a form of credit enhancement by the bond market. This provision will enable the City to secure a lower interest rate and save significant money for the public over the life of the bond."
Mayor Graham Richard went on to discuss the importance of this project to the Fort Wayne Area.
“Our ability to retain and gain good jobs, to attract the talent the new economy demands, requires a competitive city,” said Mayor Richard.
“Harrison Square sends a signal that Fort Wayne is one of those first-choice communities. The positive state decision puts us one step closer to the new jobs, new housing and new retail opportunities that will help to make our downtown more vibrant.”
Source: http://www.cityoffortwayne.org
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